Private Conduit Issuance Sputters to Five-Year Low as Illiquidity Crunches Non-Agency Market
October 4, 2007
New securities issuance by private mortgage conduits in the third quarter sank to its lowest level in more than five years as the unraveling of the subprime market spread to Alternative A and jumbo mortgage production. Just $91.44 billion of... [Includes two charts]